India, Feb. 10 -- Current state of AI initiatives; organizations have spent billions of dollars on AI initiatives. As per published reports, only 5% of the initiatives are delivering value, and the payback period for most is 2-4 years, as opposed to the 7-12 months expected for technology investments.

The reasons cited for such a low success rate are: lack of clear objectives, lack of a governance model for AI initiatives, and, more importantly, poor data quality, fragmented workflows, and data governance issues.

It is said that modern organizations are connected but still disconnected. This paradox exists because these organizations have digital systems, networks, and integrations, but their data, processes, and people are not connecte...